SCM 310 EXAM 1 QUESTIONS WITH
100% CORRECT ANSWERS LATEST
VERSION 2025/2026.
What is a system? - ANS -group of items, events, and actions that are interdependent
-ex: going to class, reading assignments, doing homework, passing exams, passing this class
-ex: practice, analyzing practices, watching game films, adjusting game plan, winning games
why do companies exist? - ANS -book: "exist to meet the needs of society"
-people go into business to make a profit
-people go into business to put the competition out of business
THE OPERATIONS FUNCTION
operations as a transformation process - ANS 1. inputs (materials, machines, labor,
management, capital)
2. transformation process
3. outputs (goods, services)
4. feedback
THE OPERATIONS FUNCTION
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, operations as a basic function - ANS 1. inputs (capital, materials, equipment, facilities,
suppliers, labor, knowledge, time)
2. transformation process
3. outputs
-products: goods/services
-waste, pollution
what is the primary objective of operations management? - ANS to add value to the firm
THE OPERATIONS FUNCTION
operations as the technical core - ANS ?
how do firms add value? - ANS -competitive advantage
-core competency: things that a business does better than anyone else (ex: customer service)
is a service a product? - ANS ex: restaurant, the product is the food that is served to
customers
does service depend on the manufacturing sector? - ANS ex: restaurant depends on the
manufacturing sector because they need plates, tables/chairs, food, etc.
IMPACTS ON OPS MGMT: KEY EVENTS
industrial revolution - ANS -from everyone making all goods on their own to having other
people do it
-steam engine: 1769, james watt
-division of labor: 1776, adam smith
-interchangeable parts: 1790, eli whitney
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
100% CORRECT ANSWERS LATEST
VERSION 2025/2026.
What is a system? - ANS -group of items, events, and actions that are interdependent
-ex: going to class, reading assignments, doing homework, passing exams, passing this class
-ex: practice, analyzing practices, watching game films, adjusting game plan, winning games
why do companies exist? - ANS -book: "exist to meet the needs of society"
-people go into business to make a profit
-people go into business to put the competition out of business
THE OPERATIONS FUNCTION
operations as a transformation process - ANS 1. inputs (materials, machines, labor,
management, capital)
2. transformation process
3. outputs (goods, services)
4. feedback
THE OPERATIONS FUNCTION
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, operations as a basic function - ANS 1. inputs (capital, materials, equipment, facilities,
suppliers, labor, knowledge, time)
2. transformation process
3. outputs
-products: goods/services
-waste, pollution
what is the primary objective of operations management? - ANS to add value to the firm
THE OPERATIONS FUNCTION
operations as the technical core - ANS ?
how do firms add value? - ANS -competitive advantage
-core competency: things that a business does better than anyone else (ex: customer service)
is a service a product? - ANS ex: restaurant, the product is the food that is served to
customers
does service depend on the manufacturing sector? - ANS ex: restaurant depends on the
manufacturing sector because they need plates, tables/chairs, food, etc.
IMPACTS ON OPS MGMT: KEY EVENTS
industrial revolution - ANS -from everyone making all goods on their own to having other
people do it
-steam engine: 1769, james watt
-division of labor: 1776, adam smith
-interchangeable parts: 1790, eli whitney
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
